What types of solar electric systems qualify for the 30% Federal Tax Credit?*
Some Facts Regarding Eligibility of the Federal Tax Credit*:
Federal Tax Credits in effect through 2016
The Emergency Economic Stabilization Act of 2008, which was signed into law on October 1, 2008, was a boon to the renewable energy field. Not only was the 30% commercial solar investment tax credit extended through 2016, but the same tax credit was also extended to residential installations.
Under this legislation the previous $2,000 cap for residential solar installations was eliminated. As of January 1, 2009, the purchase of a residential solar electric system makes you eligible for a tax credit equal to 30% of the cost of your solar system, including installation. See full information on how you may use the tax credit.*Consult with your tax adviser to make sure the tax credit applies to you and your situation.
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